You should also include it in the list
Don't buy it while the price is still in the hype. Because you may be trapped by the sudden drop in prices.
Many trading investors are trapped in this situation because they think their prices will increase. And to keep the small traders out of the way, they stick to their pumps, and this is why they often fall victim to the Bull Trap.
Topic: Dont break rules while trading - page 4. (Read 688 times)
I follow some rules. Am not sure if they will work you for everyone but these are the basics.
1. Keep it simple. Once I tried to gather as much info before start trading. Many indicators, many news, vast analysis made me paralyzed to trade.
2. Avoid crypto trading on weekend and Friday too. Instead enjoy the holidays.
3. Never do Revenge trading, you will only trade whenever you have proper mindset.
4. Never love any asset, emotional trading will kill your investment.
Consider those tips as free gift, not financial advice. Always do your own research
Your comment are topnotch and you made some valid points especially rule after trowing away those lagging and colorful indicators and concentrates on candlestick patterns and price action while using one or two moving average indicators to identify the trend then I began to make profits thus enabling me to twerk my strategy to suit my trading style I ensured my chart is simple thus easily analyzable for any trading set-up. 1. Keep it simple. Once I tried to gather as much info before start trading. Many indicators, many news, vast analysis made me paralyzed to trade.
2. Avoid crypto trading on weekend and Friday too. Instead enjoy the holidays.
3. Never do Revenge trading, you will only trade whenever you have proper mindset.
4. Never love any asset, emotional trading will kill your investment.
Consider those tips as free gift, not financial advice. Always do your own research
how about use of Technical Analyses? some traders say this thing is very helpful. almost like voodoo stuff)))
and I think every person has its own rules.. for trades or investment..
and what worked well for you may not be good for another person because of several reasons : like knowledge base, temper, mentality and so on
but anyway, thank you for sharing
and I think every person has its own rules.. for trades or investment..
and what worked well for you may not be good for another person because of several reasons : like knowledge base, temper, mentality and so on
but anyway, thank you for sharing
3. Never do Revenge trading, you will only trade whenever you have proper mindset.
This is my problem personally that took me a long time to figure out how to fight it indeed this is a problem. Being a very short-tempered guy when I lose some money I tend to rage and a wave of greediness to get the lose back in an instant kick in and will end me losing all my remaining balance, which happened 3 times already.4. Never love any asset, emotional trading will kill your investment.
Loving an asset can for sure help someone to profit, yes you'll be biased about it but it will bear good results if you have control over your emotion. 
I follow some rules. Am not sure if they will work you for everyone but these are the basics.
1. Keep it simple. Once I tried to gather as much info before start trading. Many indicators, many news, vast analysis made me paralyzed to trade.
2. Avoid crypto trading on weekend and Friday too. Instead enjoy the holidays.
3. Never do Revenge trading, you will only trade whenever you have proper mindset.
4. Never love any asset, emotional trading will kill your investment.
Consider those tips as free gift, not financial advice. Always do your own research
1. Keep it simple. Once I tried to gather as much info before start trading. Many indicators, many news, vast analysis made me paralyzed to trade.
2. Avoid crypto trading on weekend and Friday too. Instead enjoy the holidays.
3. Never do Revenge trading, you will only trade whenever you have proper mindset.
4. Never love any asset, emotional trading will kill your investment.
Consider those tips as free gift, not financial advice. Always do your own research
This should be move to trading section. What you have pointed out can really help the trader if they really like to gain a profit but it takes a patience in which most of the people really hate so I assume that only few traders can follow it hundred percent.
Especially the number 3, revenge trading. What most of the traders will double their assets if they lost some so they can easily catch up to what they lost or even gain a profit. This is like greedy trading which is very unnecessary if we really like to follow the low risk trading but others are rather gambler and they didn't think the same way.
Those are simple and at the same time very complex with rules because each one of them has so many intricacies and "challenges" that each trader has to go through. I have noticed that as a trader gets experienced he gets a more nuanced view on every concept that he/she has learnt. As your first rule says: Simplicity will make your trading journey less stressful. There is no need to have a bunch of indicators on your chart. You can literally make a living just by trading support and resistances. If you add too many indicators some of them will sometimes give you false readings and just confuse you, therefore you won't take the trade. Analysis paralysis is a big thing in trading and can end careers so keep calm and keep it simple.
I follow some rules. Am not sure if they will work you for everyone but these are the basics.
1. Keep it simple. Once I tried to gather as much info before start trading. Many indicators, many news, vast analysis made me paralyzed to trade.
2. Avoid crypto trading on weekend and Friday too. Instead enjoy the holidays.
3. Never do Revenge trading, you will only trade whenever you have proper mindset.
4. Never love any asset, emotional trading will kill your investment.
Consider those tips as free gift, not financial advice. Always do your own research
1. Keep it simple. Once I tried to gather as much info before start trading. Many indicators, many news, vast analysis made me paralyzed to trade.
2. Avoid crypto trading on weekend and Friday too. Instead enjoy the holidays.
3. Never do Revenge trading, you will only trade whenever you have proper mindset.
4. Never love any asset, emotional trading will kill your investment.
Consider those tips as free gift, not financial advice. Always do your own research
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